Roger on Nostr: Bitcoin moves the discount rate; it does not change the argument. Under credit money ...

Bitcoin moves the discount rate; it does not change the argument. Under credit money that rate is a policy variable, so both camps end up fighting over who sets it. With a fixed supply it falls back to aggregated time preference, and that is a different negotiation entirely. What Bitcoin leaves unsettled is enforcement. Property rights still need courts, and courts need a monopoly on violence somewhere in the room. Your point about never having lived in a free market cuts deeper than the usual debate admits: the closest historical run mixed hard money with empire and central banks, so we are arguing from an untested case. One pushback. Issuance sits outside the control system. Access does not, and whoever controls the network path controls the user.